#CryptoIntegration Reasons for the recent rise in the price of ENA
1. Trading activity and institutional focus
The price of ENA rose by nearly 160% over the past month, driven by the listing of the currency on prominent exchanges like Upbit, which boosted trading volume and liquidity and highlighted the currency.
Additionally, the entry of the financial institution World Liberty Financial — linked to Donald Trump's business — through a massive initial purchase of ~500,000 dollars (about 510,000 ENA) has increased market confidence.
2. Expansion of the Stablecoin base within the system (USDe)
The synthetic stablecoin USDe belonging to the Ethena protocol has seen a remarkable increase in market value, from 5.3 billion dollars to around 8.4 billion in just one month, making it the third largest stablecoin of its kind.
This expansion drives further demand for ENA as the primary governance token of the protocol.
3. Purchases by "whales" and token accumulation
A large number of "whales" have recently purchased over 1 billion ENA, reflecting strong confidence and reducing the available supply for sale.
In July/August 2025, the total value locked in the protocol (TVL) jumped from 5.8 billion to over 9.6 billion dollars, strengthening the economic foundation of the token.